CITY PUBLIC SERVICES OF SAN ANTONIO

About CITY PUBLIC SERVICES OF SAN ANTONIO

And the award for being the energy distributor for the seventh-largest city in the US goes to City Public Service of San Antonio (also known as CPS Energy). Serving more than 765,000 electricity customers and 335,000 natural gas customers, the utility operates in a 1,514-sq.-mi. service territory. CPS Energy also has a generating capacity of more than 6,570 MW from its 16 fossil-fueled power plants and its ownership interests in STP's South Texas Nuclear Project, and wind power and solar power projects. As a municipally owned utility, CPS Energy is exempt from retail competition in Texas.

The company offers services such as new service installation, service remodel, all-night security lighting, and street lighting (associated with new residential developments).

Sales and Marketing

CPS Energy provides electric and natural gas services for residential and commercial customers/developments throughout service territory.

Financial Performance

In fiscal year 2016, the company’s net revenues decreased by 5% due to a drop in electric and gas revenues driven by lower wholesale revenues due to lower sales volumes as a result of plant outages and lower margins.

CPS Energy’s posted a net loss of $254.42 million (compared to net income of $173.14 million in fiscal 2015), mainly due to lower net revenues, the presence of an extraordinary item (a loss of $391.4 million related to the noncash impairment of CPS Energy’s investment in STP Units 3 and 4), and higher depreciation.

The company’s operating cash inflow decreased by 6% in fiscal 2016.

Strategy

Pushing renewables to reduce green house gas emissions to meet state and federal standards, CPS Energy is now leading in wind-energy capacity among municipally owned utilities across the US with a goal of getting 20% of its power from renewable sources by 2020, including 100 MW from solar power. It also plans to cut its customers' demand for electricity by 771 MW by that year. In a major acceleration of its green energy/conservation commitments, in fiscal year 2012, CPS Energy announced plans to deactivate its J.T. Deely Units 1 and 2 coal-fired power plants in fiscal year 2018 instead of the projected dates of fiscal year 2032 and fiscal year 2033.

Looking to reduce both power use and its carbon footprint, CPS Energy is retrofitting more than 1 million electric and gas meters in order to bring them into a smart technology grid to help customers save money and conserve power. It is also encouraging customers to switch to compact fluorescent lights, and has a goal of reducing power demand by 771 MW by 2020.

In 2015 Clean Energy Collective (CEC, the world’s leading community solar provider) signed a partnership agreement with CPS Energy, bringing the first roofless community solar pilot project to San Antonio. CEC will develop a 1.2 MW solar PV facility, providing CPS Energy customers the opportunity to own local clean energy generation through CEC’s Roofless Solar program.

Company Background

A venerable company, CPS Energy traces its roots to the 1860s, when its predecessor opened a manufactured gas plant on Houston Street.